Wednesday February 1, 2006 - 05:10:46 GMT
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Tricom Futures and Foreign Exchange -
Forex: Wasn't Greenspan's farewell FOMC a blast!!!!
The US dollar was trading mixed against major currencies post-FOMC, while the euro was the main beneficiary following the expected rate hike by the US Federal Reserve overnight.
The US dollar fell sharply overnight prior to the Federal Open Market Committee meeting where an expected 25 percentage basis point rate hike lifted official US cash rates to 4.50 pct.
The US dollar regained a measure of strength following the release of the Federal Reserve statement, with the wording of policy firming "likely to be needed" changed to "some further policy firming may be needed.
Key US data to be released tonight include the ISM manufacturing survey for January, together with auto sales and construction spending figures for December.
Today's Economic Release:
US: Construction Spending
Today's Top Trades
- EUR/USD buy dips towards 1.2120, with stops under 1.2080
- USD/CHF sell strength towards 1.2820-30, with stops above 1.2880
For more ideas send me an email, [email protected]
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